All Forum Posts by: David Wright

@Dale Ferrell In my opinion the best lead program is the one that your current budget can afford consistently.  For example you never start a direct mail campaign if you do not have the budget to do it for several mailings regardless of the results (starting out). 

The best lead programs are the ones that you do over and over again that get consistent results.  In other words, with any lead program think long term not short term.

I have been down this road many times Sheila.  In short, the best Real Estate CRM to use is the one that fits your personality and habits in my opinion.  They all have their pros and cons and you will never find the perfect one.  There will always be one that seems like its better than what you already have.  Pick the one that works best with your skills sets, habits and personality.

You can do it Dylan and I wish you the best.

@Jay Hinrichs. So are you saying wholesaling is illegal in every state and some states enforce the law and some do not ? I just asking I am curious...

@Dylan Bera finding a good mentor is pretty hard. In the past I've spent thousands of dollars on training programs but not really personal mentorship. Here is my advice I would start where you are - Bigger Pockets - not just to learn the business but also the culture of the business. Real estate investing is a unique business in that there are different ways to achieve your financial goals and you have to find the real estate strategy that fits your personality not just your financial goals and desires. After researching the different strategies go with the one you like the most not just the one you think will make you the most money. This will help you start successfully.

@Justin R. Contact a real estate attorney just to be safe and present to him what you have on this post. In the future to avoid any tenant headaches I would consider owner financing which has many similar benefits to rentals without the headaches of managing tenants. Of course there are pro and cons to each strategy but peace of mind is priceless and that is why you may want to consider the owner financing option vs the landlord rental option. Hang in there it will get better!

@Anthony Marucci If the goal is to minimize your out of pocket cost while you are learning I would consider learning how to effectively wholesale. Some investors and realtors look down on wholesaling and just like any other real estate strategy it has its pros and cons. However in my opinion for learning and keeping your investment little to no money down it's a worthy consideration. Wholesaling done correctly and legally could accomplish exactly what you are looking for.

Hello Michael, I wouldn't say its a bad deal but I also wouldn't call it a great deal.  With the risk in real estate investing and especially Subject 2 deals I personally would have to have a lot more than $150 per month.

With Sub 2 deals you want to ideally get a bigger profit margin especially for renters considering repairs, upkeep, and even vacancy issues.

Also I would owner finance a Sub 2 deal to eliminate many of the expenses and headaches that come with rental tenants.  With an owner finance strategy the cost and upkeep of the property is on the tenants, plus you are still receiving long term payments just without all the expenses which increases your profit margin.

I hope this helps.   

Jim, remember you want to work with a real estate attorney, not just any attorney, and if you can find a real estate attorney who is also a real estate investor that is the best attorney to work with.

Just Google for real estate attorneys in your market and ask are they also a real estate investor.  You may have to call several before you find the right one.

You can do it Jim.

Welcome to the "game" Gary.  Regarding your question...there really are no rules, but its very good to be honest always.  I am assuming you are a wholesaler (correct me if I am wrong), if so I would just tell the seller you are interested in buying and not mention the how you will buy.

Its very important as a wholesaler that you always represent yourself buying the property and no one else because it could be implied that you are representing someone else and those are dangerous waters because you are now borderline practicing as a real estate agent/realtor and you need to be licensed to do that.  So be sure to always represent yourself and the one purchasing the property no one else.

Also, remember the key to direct mail is consistency you have to mail numerous times to get the best results, it can not be a one done mentality.

I wish you the best Gary!